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Below are just a few trade ideas.

We try to find low risk set ups and entries.  To ensure that the risk remains low,  we use reasonable stops and honor them if the trade goes against us. Being wrong is OK, it will happen from time to time.  Staying wrong can damage your account.

WIX – Just broke back above the 50sma again. Your stop would be under the 50sma.

WIX

 

GPRO – re-gained the 50sma, but gapped open. You may want to wait for a break out above the blue dotted line

GPRO

Continue on…

 

NAO – Double bottom, breaking the downtrend?   Oil & gas  (Caution: this sector may only be in a bounce / pause )

NAO

 

ARIA –  This may break out soon. Buy above the 50sma.

ARIA

 

KITE –  I posted this yesterday, still valid

KITE 2

 

AKAO –

AKAO

I have been pointing out certain food / restaurant stocks   ( See PZZA for a nice uptrend) .  If Dennys breaks out, it may run too.

DENN – pointed this out June 26

DENN 2

DENN  currently forming an inverse H&S

DENN

 

Pointed out Boeing June 25   ($142).  More of a longer term buy & hold candidate

BA

 

Now at $148ish , still a bullish pattern.  Was not adversely affected in the current  China / Greece concerns

BA 2

 

TWTR – Possible trade, but I dont love this set up

TWTR

 

ZIOP –  I have been watching  this  since $9.   Traded it in June for a small run higher, and now it seems to be forming an inverse H&S.  It held the 50sma on the recent sell off.

ZIOP

So those are just a few of the trade ideas out there. Keep in mind that Bullish set ups in Pharma and Biotech stocks can be explosive in both directions.  If news comes out that ‘tests ‘ or “trials’ failed or didnt get FDA approval, the stock can tank.

  With that in mind, many Pharma / Biotech stocks have doubled and tripled lately, the sector has done very well.    See  the chart of IBB below.

IBB

 

Thanks for reading along here at Chartfreak,  and best wishes in all your trades!

~ALEX

20 replies
  1. Bill
    Bill says:

    Alex, I like your recommendation GALE! Have you noticed a lot of Pharma stocks are at/near double tops?

    • chartfreak1
      chartfreak1 says:

      Yes, Gale looks good. I would like to see increasing volume as it rises .

      No I havent noticed a lot of double tops. I have seen a pretty even mix of break outs, stairways higher, or recovery mode from selling , but I like most of them.

      TROV & EYES are 2 more that caught my eye.

    • chartfreak1
      chartfreak1 says:

      GDX… I like what I see technically, and I’m hoping this is a stop run below all the prior lows.

      Volume really needs to pick up if they are going to crash it down, in my opinion. If volume stays light, I think selling will dry up , and we may see a reversal into the close Friday ( weekly candle reversal)

    • chartfreak1
      chartfreak1 says:

      Hi Ash,

      I have been bullish with the set up on NATGAS.

      Look at MAY 7 & 8 as it crossed the 50sma & dropped back on it., and I look at where we are now as right around that time frame. I think we are seeing that kind of playing out right now. I’d have a stop below the 50sma

  7. chartfreak1
    chartfreak1 says:

    Actually I was just looking at OCT 2014. MINERS COULD capitulate like they did in OCT 2014. They dropped on light volume and then had 3 huge days down on capitulation volume. Bounce and new lows, then ICL

  8. deshy
    deshy says:

    Alex, Any thoughts on SU as a long-term play? Don’t like bottom fishing but I’m wondering if it’s now near a level where you hold your nose and don’t look at it for a looong time? Maybe a descending wedge there if I squint?

    • chartfreak1
      chartfreak1 says:

      HHMMM, tough call at this point. It looks due to rise, but theres nothing saying that it wont go lower later. the 5 year weekly is oversold , but it still says that it could go lower if Oil sells off. The MACD is open and facing down and price below the 10WMA.

      Daily chart I do see the descending wedge, but it hasnt broken out, its at the top and could make another run to the low of the wedge. I’d wait for a break out of the wedge (maybe even a back test).

  10. Cason
    Cason says:

    Let go of rest of XIV 10 cents from high today. I think we go higher in S&P from here, but easy money had been made already. +12% but on a rather large position so big win in relative terms. Stopped out SCO (too tight, but at profit). Sold KITE +12% just to secure winnings.
    Have limit buys in for KITE, SCO, IMH if we reset. If not, I have cash!

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